- SME Brief
- Posts
- How to Start and Grow a Tourism Business in South Africa
How to Start and Grow a Tourism Business in South Africa
Today, SMEs, we will gain an understanding of how to grow your sustainable tourism business, discover 10 steps to launching a tourism business, and explore a guide on the Tourism Equity Fund.
Table of Contents
The Tourism Equity Fund (TEF), established by South Africa’s Department of Tourism in collaboration with private banks and SEFA, aims to foster growth and transformation in the tourism sector. It addresses funding challenges faced by entrepreneurs while promoting job creation. With R 1 .2 billion available, the fund supports businesses with grant funding and debt financing, focusing on sectors like accommodation, hospitality, and travel services.
Applicants must meet criteria including 30% black ownership and legal compliance. Despite challenges like slow sector development and COVID-19 impacts, the TEF offers significant opportunities for businesses to expand and empower marginalised groups in tourism.
As we explore the tourism industry, tourism businesses need to be sustainable. Whereas your business is growing, it is decisive to also care about the environment and local communities. A sustainable tourism business means you must respect cultures, and traditions, help the local economies, and protect the environment.
For example, you can make your accommodations to be eco-friendly by using solar energy and reducing water use. Also, it’s important to support local businesses and be mindful of how your activities affect the environment. And avoiding single-use items and making small changes that can make a big difference. By doing these things, your business can grow responsibly and benefit everyone involved.
Explore a variety of useful resources designed for your tourism business, whether you're just starting or looking to grow. We provide e-books, templates, guides, reports, and surveys to support your success. Find all these tools conveniently located in one place, specifically tailored to meet the needs of the tourism industry. These resources offer knowledge to empower you in navigating the competitive market landscape. Discover how to overcome challenges and get opportunities, ensuring your business thrives and achieves its full potential.
Tourism is the temporary movement of people for leisure, business, or other reasons. It encompasses diverse activities and destinations, impacting economies and raising social and environmental considerations. Take a look at our glossary for detailed insights into this dynamic industry.
How important is sustainability to your business strategy? |
